Small LENDER Act

Summary

Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act This bill modifies the requirements for financial institutions to report certain information about small business credit applications to the Consumer Financial Protection Bureau (CFPB) and extends the timeline for compliance with the CFPB rule with respect to such reporting (i.e., Section 1071 final rule ). (For background about the CFPB rule and subsequent litigation see CRS Report R47788 .) Under the bill, the reporting requirements apply only to financial institutions that originate at least 500 credit transactions to small businesses in each of the preceding two years. The bill further defines small businesses as those with gross annual revenue of $1 million or less. The rule currently establishes a phase-in period that ultimately requires institutions that originate over 100 credit transactions to small businesses to comply with the reporting requirements. The rule also defines small businesses as those with gross annual revenue of $5 million or less. Further, beginning on the date the final CFPB rule was issued (May 31, 2023), the bill provides three years for applicable financial institutions to comply with the rule followed by a two-year safe harbor period during which such institutions are not subject to any penalties for failure to comply with the rule.

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Timeline

1. 4 February 2025

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 4 February 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 February 2025

   Introduced

   Introduced in House

   Source: IntroReferral

4. 21 April 2026

   Vote

   Ordered to be Reported by the Yeas and Nays: 26 - 22.

   Source: Committee

5. 21 April 2026

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

6. 18 June 2026

   Calendars

   Placed on the Union Calendar, Calendar No. 610.

   Source: Calendars

7. 18 June 2026

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 119-702.

   Source: Committee

8. 18 June 2026

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 119-702.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Reported in House

  Reported in House · EN · 18 June 2026

  DownloadOpen at official source

• Introduced in House

  Introduced in House · EN · 4 February 2025

  DownloadOpen at official source

• Introduced in House

  summary · EN · 4 February 2025

  Open at official source

Sponsors

• Rep. Hill, J. French [R-AR-2] · R · Sponsor
• Rep. Meuser, Daniel [R-PA-9] · R · Sponsor
• Ann Wagner · R · Sponsor
• Rep. Huizenga, Bill [R-MI-4] · R · Sponsor
• William Timmons · R · Sponsor
• Tim Moore · R · Sponsor
• Roger Williams · R · Sponsor
• Mike Haridopolos · R · Cosponsor
• Rep. Nunn, Zachary [R-IA-3] · R · Cosponsor
• Ashley Hinson · R · Cosponsor
• Ryan Mackenzie · R · Cosponsor
• Steve Womack · R · Cosponsor
• Rep. Kelly, Trent [R-MS-1] · R · Cosponsor
• Rep. Buchanan, Vern [R-FL-16] · R · Cosponsor
• Jefferson Shreve · R · Cosponsor
• Rep. Rose, John W. [R-TN-6] · R · Cosponsor
• Joe Wilson · R · Cosponsor
• · hsba00 · Standing

Related records

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